EU Emergency Measures Unlikely To Include A Natural Gas Price Cap

The European Commission is unlikely to include an immediate cap on natural gas prices in the emergency measures it is set to propose today. The measures will be designed to ease the energy crisis but EU member states remain divided over the price cap issue.
The European Commission is expected to propose a “maximum dynamic price” on the natural gas futures traded at the Title Transfer Facility (TTF), the benchmark for the European gas prices, as a “last resort”.
The EU is reportedly looking to introduce measures to limit the market volatility of the benchmark European natural gas prices. According to a draft document that Bloomberg News has seen, the European Commission is set to propose measures to limit extreme price spikes in derivatives trading.
There will also be a “dynamic price corridor” for gas trading at other European hubs under the draft proposal Reuters has seen.
Still, no price cap on gas would be part of the latest set of proposals to alleviate the burden of soaring energy prices on industry and households. $S&P 500 Index(.SPX.US)$ $Camber Energy(CEI.US)$ $Cheniere Energy(LNG.US)$ $Indonesia Energy(INDO.US)$ $Houston American Energy(HUSA.US)$ $Imperial Petroleum(IMPP.US)$